PG&E Q2 Profit Jumps on Lower Costs, but Revenue Misses Estimates
PCG sits 37% above its 52-week low of $13.315.
Summary
PG&E's Q2 adjusted EPS of $0.40 beat estimates by 4 cents, driven by a 3.5% drop in operating expenses to $4.64B. Revenue of $5.9B missed the $6.2B consensus, with flat year-over-year top line. GAAP EPS was $0.33 vs. $0.24 a year ago. The company reaffirmed full-year guidance, and the profit beat was aided by higher rates. The revenue miss may raise questions about demand trends.
At the time of this announcement, PCG was trading at $18.22 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $39.9B. The 52-week trading range was $13.32 to $19.16. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.